ILLUMINA, INC.

RISK FACTORS

Our business is subject to various risks, including those described in “Risk Factors” within the Business & Market Information section of our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. In addition to the risk factors disclosed in our Form 10-K, the issues raised in the following risk factor could adversely affect our operating results and stock price:

Armed conflict, geopolitical instability, or sanctions could adversely affect our business and results of operations.

Armed conflict and geopolitical instability, such as in Ukraine, Russia, Iran, and other parts of the Middle East could adversely affect global economic conditions and negatively impact our business, results of operations, cash flows, financial condition, or growth prospects. The scope, duration, and broader consequences of such conflicts are inherently uncertain and may escalate or evolve in ways that are difficult to predict.

Ongoing or future armed conflicts and geopolitical tensions have led, and may continue to lead, to the imposition of sanctions, export controls, trade restrictions, and other restrictive measures by the United States and other governments, as well as countermeasures in response. These measures, together with related compliance obligations, have affected, and may continue to affect, our ability to sell products, provide services, conduct financial transactions, or ship products into certain regions, including limitations on our ability to collect or pay amounts owed by or to certain counterparties.

For example, ongoing armed conflict between Russia and Ukraine has made business activities in certain affected regions challenging and, in some cases, impracticable. In addition, armed conflict and instability in Iran and elsewhere in the Middle East has caused, and may continue to cause, volatility in global energy markets, including higher fuel and energy costs, and could disrupt global transportation routes, logistics networks, or supply chains, which could increase our operating costs, delay deliveries, constrain manufacturing or sourcing activities, or otherwise adversely affect our business.